Economy to touch $2.5 tn in next 5 years: Sharma

Commerce and Industry Minister Anand Sharma on Tuesday expressed confidence that the size of Indian economy is likely to double to $2.5 trillion by 2015.

Commerce and Industry Minister Anand Sharma on Tuesday expressed confidence that the size of Indian economy is likely to double to $2.5 trillion by 2015.

"We will see India doubling its GDP in the next five years to $2.5 trillion," Sharma said at the 44th convocation of the Indian Institute of Foreign Trade (IIFT).

India is the second fastest growing economy in the world after China even as the developed economies are just coming out of the shocks of the financial tsunami.

India's GDP was estimated at $1.2 trillion in 2008-09.

Prime Minister Manmohan Singh today expressed confidence the Indian economy would grow by 8.5 per cent in the next fiscal and accelerate to nine per cent the following year from an estimated 7.2 per cent this fiscal.